Hungary extend their contract until 2026

F1 has been present in Hungary since 1986, making it the third circuit with the longest consecutive presence, after Monaco and Monza. It is therefore now assured of celebrating its 40th anniversary, thanks to a new contract signed with the FOM.

Bernie Ecclestone confirmed it to Autosport: « Yeah, we have a new agreement. They are big supporters, they do a very good job. It’s good for the country, good for us. I am very, very happy that we are still in Hungary and we are going to stay there. »

It is thus interesting to note that such an agreement is already being extended, even though in July 2013, both parties had already agreed to extend their then-existing agreement until 2021. Therefore, there was no urgency for both parties to return to the negotiating table.

Nevertheless, Miklos Sesztak, the Minister of National Development, specified that a long-term agreement like this ensures a development plan, which started this year with the resurfacing of the circuit: « However, despite everyone seeming satisfied with the Grand Prix, saying they have a great time here, we know that further improvements are necessary. The resurfacing work that has just been completed was the first step in this direction. I can reveal that the 2017 budget allocates significant resources dedicated to the development of the circuit. »

For the small Central European country, F1 has always played the role of a strong symbol. Thus, in 1986, when it appeared on the calendar, it symbolized the first Grand Prix held on the other side of the Iron Curtain, before the fall of the USSR.

The local government has therefore understood the importance of preserving such an event, which puts their country on the world map and promotes the living qualities of its capital, Budapest: « Each year, the race is one of the most important sporting events for our country. The government of Hungary is thus committed to maintaining a high-quality track like the Hungaroring. »

Here is a strategy that could be listened to and followed by many European governments at a time when ordeals in the Old Continent seem permanently threatened. While European viewers account for 60% of the global audience…

With the participation of www.racingbusiness.fr